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In 2016, the share of buyers who purchased a primary residence rose for the third year to 70 percent from 65 percent. The share of vacation home buyers declined for the third straight year to 12 percent from 16 percent.
The share of investment buyers remained unchanged at 19 percent for the third straight year.
Forty-two percent of vacation home buyers plan to use their property for vacations or as a family retreat. Among vacation buyers, 25 percent purchased in a resort area, 25 percent in a rural area, and 21 percent in a small town—all which are higher than other buyer types.